Cloud storage management startup PrimaryIO has secured $5.6 Mn seed funding from Accel, Exfinity Ventures and Partech Ventures, to expedite its product development efforts. Primary IO targets enterprise customers through its break breakthrough software technology for storage management for virtualized data centres.
Speaking about the investment Dinesh Katiyar from Accel, said, “Cloud computing is disrupting traditional IT at a very rapid pace and creating high growth opportunities. PrimaryIO, with its domain expertise, is well-positioned to benefit from this market trend and we are excited to work with the team.”
Founded by Lorenzo Salhi in 2012, the firm is headquartered in Silicon Valley having research centres in Pune. Mr Salhi currently serves as the Chief Revenue Officer for the startup. PrimaryIO provides software solutions to increase application performance by accelerating I/O throughput via intelligent data service policies.
Chinnu Senthilkumar, Partner, Exfinity Venture Partners remarked, “As traditional enterprises and financial institutions look to embrace cloud computing, there is a need for a special computing framework for cloud transformation. PrimaryIO’s technology is designed to work with existing enterprises’ IT infrastructure without compromising performance, security and protocol while allowing them to leverage the cloud computing infrastructure.”
Speaking on the same line, Nick Petheram, CEO of Bell Integration, a leading System Integrator and channel partner in UK, Europe and Singapore said, “PrimaryIO has an exciting technology for our customers. I believe that our enterprise customers will benefit from a significant application performance, improved storage optimization and increased data-centre resource utilization. We look forward to working with PrimaryIO and deliver current and next-gen data centre cloud solutions to our customers”.
The funds will be used to precipitate the product development efforts and rapidly boost the technology to fit the enterprise customer needs. The PrimaryIO leadership team comes from Virident, Veritas, HP, and sTec
Speaking about the product, Kumar Ganapathy, CEO of PrimaryIO said, “Drawing on our deep background in storage and cluster file systems, we are uniquely positioned to help our customers overcome performance & capacity issues so they can truly take advantage of cloud-computing technologies.”
Cloud computing industry has seen a rise in the last few years. Earlier it was reported on media that Alibaba will soon establish two new data centres in Mumbai, India and Jakarta, Indonesia. Alibaba has a dedicated arm called Alibaba Cloud for all its cloud computing innovations and businesses.